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Indian rupee hit an all-time low of 91.14 against the US dollar earlier this week but rebounded on Wednesday, aided by RBI intervention. Despite the bounce, the rupee remains over 6% down this year, making it the worst-performing currency in Asia.

Indian rupee snapped its five-day losing run as it closed 0.7% higher — the biggest single-day gain in two months — against the US dollar on Wednesday, December 17. The Indian rupee closed the session at 90.38 per US dollar, as against its last closing price of ₹91.0275.

USD vs INR: Following RBI's aggressive USD selling on Tuesday, the Indian Rupee rebounded to 90.0963 on Wednesday, logging around one per cent gain in the early morning session

The intervention by the Reserve Bank of India (RBI) followed a sharp slide in the Indian rupee to record lows in recent weeks, prompting debate over why the central bank hasn't stepped in to arrest the slide.

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V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that normally when rupee depreciates the RBI will intervene to stabilise the currency by selling dollars.

At the interbank foreign exchange, the rupee opened at 90.87 against the greenback and kept losing ground as the session progressed. It plunged 36 paise to breach the 91-mark against the US dollar for the first time today.